Punchh Secures $20 Million in Series B Funding
Punchh, a digital marketing platform for retail brick-and-mortar stores serving more than 100 restaurant chains around the world, raised $20 million in Series B venture funding led by Sapphire Ventures, with participation from Cervin Ventures.
Punchh’s AI and machine learning tools provide brick-and mortar-retailers with the data-driven, omni-channel marketing strategies that have allowed digital merchants to continually gain market share. These tools will allow retailers to create custom campaigns and offers across national, local, SKU, or even weather-based strata. Punchh also plans to release Punchh Acquire, which, through Wifi, SMS, social platforms, Apple Pay, and eClub, strives to convert customers into brand loyalists.
The new funding will be used to expand the Punchh Marketing Cloud to new industries and roll out predictive marketing capabilities using AI and machine learning.